Applied Rationality focuses on public policy issues and tries to take a liberal perspective that is consistent (comments to the posts will often show otherwise) with neoclassical, rational-choice economics.

Monday, July 2, 2012

Republicans' dismal jobs record in NC

In an article in yesterday's News and Observer, Republican legislative leaders in North Carolina were touting how promising their jobs record was.

In discussing their economic policies, Republicans often use a
farming metaphor the folks in Edgecombe understand: Fertile soil will
produce jobs. With business-friendly policies and a low-tax environment,
they argue, new companies will relocate to the state and existing ones
will grow.

“I think we are seeing some green shoots,” said Tillis,
the House leader and a business consultant. He still wears the same red
“Think Jobs” wristband from the 2010 campaign. “I think there are
reasons to be optimistic.”

In an interview last week, Tillis staked a claim on the state’s sputtering economy, even though his party blames Democrats for the current situation.

“This
is our economy,” Tillis said. “I am fully confident. I want to own this
economy. It is our responsibility. We did a good job of starting, and
we’ve got a lot of unraveling to do of bad policies that have hamstrung
us that cannot be undone overnight.”

The fertilizer metaphor is apt--Rep. Tillis is spreading bullsh*t.

In the 16 full months that have elapsed since the Republicans came to power in North Carolina and for which we have state jobs data (Feb. 2011-May 2012), the state has shed jobs in eight, including six of the 11 months that have elapsed since the Republican's austerity budget was enacted.

Republicans blame a weak national economy, but the national economy has added jobs in every one of those months.

Republicans also blame Democrats, but the Republican budget is leading to less job growth. In the 11 months since the Republicans' budget was enacted, the state has added a measly 12,900 jobs; in the 11 preceding months (and during a much weaker economy), the state added 47,200.

If this is Republicans' "good start," one can only imagine what the finish will look like.